July 26, 2022 14:20 ET | Source: Straits Research Straits Research
New York, United States, July 26, 2022 (GLOBE NEWSWIRE) -- Metal Oxide Semiconductor Field Effect Transistor is referred to as MOSFET. It is a power semiconductor used as an electronic switch device to manage loads as needed. Apart from being a low-cost replacement for bipolar junction transistors (BJTs), it also provides power control to improve energy saving in various applications such as industrial systems, consumer electronics, and electric vehicles. It is currently utilized to improve switching speed, avoid power loss, and amplify electronic signals in electric devices in renewable resources and electric cars. Due to its widespread use in electric devices, power MOSFET has much potential in the near future. With modest testing, development, and research investments, the market is anticipated to grow steadily in the upcoming years.
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Increased Dependence on Electrical Equipment and Machinery Drive the Global Power MOSFET Market
Machines today are very versatile, compact, and efficient in doing what they are made to do, so much as they have taken over a lot of activities that were done manually. The demand for machines and electronic equipment has increased tremendously and is expected to maintain or surpass the market in the coming years. Most machinery uses power MOSFET to manage power. Global wind & solar installations in gigawatts (GW) are around 78,124, and the MOSFET module is widely used for voltage switching operations. One of the key factors influencing the power MOSFET market is the rising reliance on electrical machinery and equipment, which directly benefits power MOSFET.
Technological Advancement in Power MOSFET Create New Market Opportunities
Electronics today include many features to boost sales and make consumers more comfortable. Technology advancements in electronic components, including computers, cellphones, wireless communication & cloud systems, and others, have increased consumer safety standards and opened up new business opportunities for improved electronics and devices. Power MOSFET has significant potential because of the rapid improvements in technology, increased efficiency, and small size of electronic components. Additionally, the nano controller is essential for managing the processes with the least amount of power loss. It is anticipated that integrating numerous electronic devices will give market players plenty of prospects.
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Asia-Pacific is the highest revenue contributor and is estimated to grow at a CAGR of 8.8% during the forecast period. Asia-Pacific is also the fastest-growing region. Power MOSFET devices are essential for ensuring adequate working conditions, and businesses across all industries realize this. Power modules and automated switching devices are in high demand, which is anticipated to propel market expansion.
North America is the second-largest region and is projected to reach USD 2,065 million by 2030, growing at a CAGR of 3.3%. Due to significant industry competitors and access to cutting-edge technology, North America is anticipated to have a commanding position in the power MOSFET market. Major regional companies are providing advanced solutions, which are expected to drive market growth.
Vendors of power MOSFET technology in Europe have a lot of growth prospects due to the adoption of sophisticated electronic vehicles, advanced virtual systems, and an increase in the number of digital electronic devices. Due to the development of the consumer electronics industry, the adoption of cutting-edge technologies like advanced driver assistance in automobiles, and the demand for low-power consumption devices in the region, which in turn drives the market growth, the region is anticipated to experience a high growth rate for the advanced packaging market.
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The key players in the power MOSFET market are
Global Power MOSFET Market: Segmentation
Table of Content and Figure @ https://straitsresearch.com/report/power-mosfet-market/toc
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